Christine Loschiavo, www.HomeSweetAzHome.com

Sometimes Foreclosure is the best option for you. If the bank holding your mortgage will not deal with you and you have no chance of catching up, foreclosure may be your only option. Many times the buyer at the auction will even pay you to move out after they buy the house.

Know all your options, find good, qualified people to help and you'll do just fine. Watch out for Fraud. A lot of sharks prey on homeowners in foreclosure. If something sounds too good to be true it usually is. Remember that fraud depends on trust. The folks that are the best at it always appear to be someone you can trust. They are really, really nice folks. You will really, really like them. They have to be so nice to gain your confidence. Be wary. Sharks can smell your desperation. They know what words you need to hear. Use common sense and don't be afraid to talk to a lawyer, your realtor, your lender, or others about any offers you receive. In Arizona a lawyer has been indicted for falsely claiming to help owners in foreclosure and embezzling their funds. Yikes!

Now, you will not be able to obtain an FHA mortgage for two years and a conventional loan will take even longer (four years). Meanwhile, a reputable Realtor can find you a rental property where the owner may consider a lease option, lease purchase or carryback.

A lease option allows you to rent the property for a year or more and be first in line to purchase it at the end of the contract. Ask your Realtor to negotiate a two year lease option contract.

In a lease purchase, you simultaneously sign a rental agreement and a purchase contract. Your Realtor will help you to negotiate a percentage of your rent to be paid towards the purchase. In today's market with declining property values a lease purchase is a great deal for the seller and a sorry deal for the buyer. The seller is selling the house at today's price but will get only partial payment until the end of the lease contract. Even if the house falls in value, the buyer is bound to purchase the home. No one can accurately predict what home values will be in any given neighborhood in one or two years from now. Not with the financial crises our markets are in. A buyer may be stuck with a purchase price on their contract for a house that has lost value. Not good for the buyer.

A seller carryback can take place only when a seller owns their home outright. They do not hold any mortgages on the property. The seller can then act as the bank. This means the buyer pays a down payment to the seller and then pays monthly ‘mortgage' payments to the seller.

For any of these three choices, use a Realtor to handle your negotiations, draw up your contracts and oversee that the transaction works in your best interest and is legal. What you do not want is to be too hasty and get into a deal that is messier than your foreclosure.

www.HomeSweetAZHome.com

Chandler, Arizona

3 Time Winner

Best Communities

for Young People Award

by the America's Promise Alliance

The winning communities - ranging from small towns to urban neighborhoods across America - are being celebrated for their commitment to provide healthy, safe and caring environments for young people. Chandler was selected for its work on many fronts in the community that offer education and recreational opportunities to young people.

About America's Promise

Founded by retired General Colin L. Powell, following the Presidents' Summit for America's Future in 1997, the America's Promise Alliance includes nonprofit, corporate and community groups as well as individuals across the nation. Alma J. Powell currently serves as chair.

America's Promise is a broad-based alliance whose members work together to ensure the well-being of children and youth. Alliance partners focus attention and resources to help every child receive the Five Promises essential to success: caring adults who are actively involved in their lives; safe places in which to learn and grow; a healthy start toward adulthood; an effective education that builds marketable skills; and opportunities to help others. Read more at: America's Promise website

Why did Chandler Win?

Chandler was selected for its work on many fronts in the community that offer education and recreational opportunities to young people. In 2005, Chandler created the Coalition for Chandler Yourth. The organization built partnerships among governement, non-profit organizations and businesses with the goal of helping young people. The coalition implemented Chandler's Day of Play.. which is a community festival that celebrates our youth. For more information on this year's celbration see: 2008 Chandler Arizona Day of Play Celebration

Chandler and the other winners were chosen by a panel of civic, business and nonprofit leaders. The selection panel evaluated 100 Best entries that required detailed information about each community's efforts to fulfill five essential promises critical to the well-being of young people: caring adults who are actively involved in their lives; safe places in which to learn and grow; a healthy start toward adulthood; an effective education that builds marketable skills; and opportunities to help others.

"We are very proud to be recognized for the efforts we have made in Chandler," Mayor Boyd W. Dunn said. "Everyone in the community understands the importance of young people to our City's vitality and future success.

The Alliance will also sponsor a yearlong celebration including a special day in each of the winning communities and a series of regional forums across the country that will enable communities to share their success stories and learn effective strategies from one another that will further enrich the lives of their young people.

For information on Chandler and the Phoenix East Valley Real Estate: www.homesweetazhome.com

The Secret

to why Chandler, Arizona

is one of America's 100 Best Places to Live!

(actually we're #30)

Besides the more than 300 sun-filled days a year and average temperature of 72.6 degrees, why is Chandler so great?

Maybe it's our Award winning schools (Chandler Unified School District),

or Active community (Chandler Parks and Recreation)

or Steady Job Market (Top Chandler Employers).

Chandler is a fast growing suburb of Phoenix that boasts award winning schools, hi-tech employers and dizzying selection of activities. Within a 15 mile radius, you'll find 48 movie theaters, 266 golf courses, 54 libraries, 201 bars and 3602 restaurants. (If you went to a new place to eat everyday, it would take you almost 10 years to sample all of our restaruants) The highest income tax rate is a mere 4.54% compared to the country average of 5.22% The job growth rate from the years 2000-2007 - a whopping 37.58%. The median home price is $270,000 and average property taxes are $1713.

Ready to pack your bags?

Find out why: Money Magazine August, 2008 Best Places to Live

www.HomeSweetAzHome.com

Chandler's Day of Play:

A 100 Best Communities for Youth Celebration

Saturday, October 18, 2008, 9 a.m. - 1 p.m.
Playtopia at Tumbleweed Park
(west of McQueen Rd., south side of Germann Rd.)

Invitation to Day of Play

Toddler to teenager, Chandler's second annual Day of Play is sure to entertain. The City of Chandler and the Chandler Coalition for Youth are once again hosting Chandler's Day of Play, from 9 a.m. to 1 p.m. Saturday, Oct. 18 at Playtopia at Tumbleweed Park (McQueen & Germann roads).

To find out more: Chandler's Day of Play Information

www.HomeSweetAZHome.com

In 1979 the price of gasoline skyrocketed to $0.86 per gallon. Americans were worried the price would approach $1.00 per gallon and began frantically looking for ways to cut fuel costs. The Carter administration launched a plan to assist homebuyers in buying and revamping homes to make them more energy efficient. This plan was spearheaded with the Green Mortgage. Over the years as the public adjusted to higher energy costs, the Green Mortgage became less popular.

Today, we are again experiencing record fuel costs and many Americans beginning to think Green again. The Green Mortgage is being taken off the shelf and dusted off. It may be just the ticket for real estate buyers today.

What is a Green Mortgage?

Green mortgages actually come in a couple of different formats. Officially these loans are classified as either Energy Efficient Mortgages (EEMs) or Energy Improvement Mortgages (EIMs).

An Energy Efficient Mortgage essentially allows you to purchase a home that is already energy efficient - even if the price of that home is larger than you would normally qualify for under your debt-to-income ratio. Energy Improvement Mortgages, on the other hand, allow you to take out a larger loan to make energy efficient repairs and improvements to a house that is not currently rated as energy efficient.

The main benefit of both of these mortgages is that they help you to qualify for a larger loan amount and help make it possible for you to live in a better, more energy-efficient home. The basic principle behind this type of financing is that the money you save from the more efficient home will offset the larger mortgage payments.

Qualifying for a Green Mortgage

To qualify for a green mortgage, you typically need to have a Home Energy Rating conducted. This rating provides the lender with an Energy Savings Value, which is the estimated monthly energy savings and the value of the energy efficiency measures.

Depending on your unique circumstances, you may qualify for a conventional, FHA, or even a VA green mortgage. Each type of loan is designed to fit specific situations and, therefore, each loan has specific requirements that must be met.

You can learn more about the differences between conventional, FHA, and VA green mortgages at the Energy Star website. And for more details about green mortgages in general, visit the HUD website.

Whether you're looking to add energy-efficient improvements to your current home or want to purchase a new energy-efficient house, green mortgages offer benefits that are definitely worth looking into.

homesweetazhome.com